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zheka24 [161]
3 years ago
11

To record purchases on account, Caleigh’s Company uses the perpetual inventory method and the gross method. On September 11, it

purchased $44,000 of inventory, terms 2/10, n/30. On September 13, the company returned $4,000 worth of goods. On September 19, the supplier was paid by Caleigh’s company. What should the company credit on September 19?
Business
1 answer:
vfiekz [6]3 years ago
7 0

Answer:

The company should credited on the Cash account and the Cash Discount Receipt for the settlement of the inventory with 10 days.

Explanation:

The detailed entry will be:

19th Sep

Dr Account Payable               $40,000

Cr Cash                                  $39,200

Cr Cash Discount Receipt    $800

( to record payable settlement and the receipt of cash discount)

Working note: As the company paying with 10 days, the supplier will allow a 2% discount on it net inventory purchase ( 44,000 - 4,000 = $40,000)

Thus, the discount will be 40,000 x 2% = $800 and Cash repayment will be 40,000 x (1-2%) = $39,200.  

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Answer:

Explanation: The job characteristics model explains that the objective characteristics of a job itself, including skill variety, task identity, task significance, autonomy, and task feedback, lead to job satisfaction for people with a high growth need strength. In  more simpler terms, it is based on the idea that a task in itself is the key to the employee's motivation. In the context of the job characteristics model, Task identity describes the extent to which the job includes a recognizable unit of work that is carried out from start to finish and results in a known consequence.

7 0
3 years ago
This information relates to Rice Co..
hodyreva [135]

Answer:

Rice Co.

Journal Entries:

April 5:

Debit Inventory $28,000

Credit Accounts Payable (Jax Company) $28,000

To record the purchase of goods, terms 2/10, n/30.

April 6:

Debit Freight-in Expense $700

Credit Cash Account $700

To record the payment of freight costs for goods purchased from Jax Company.

April 7:

Debit Equipment $30,000

Credit Accounts Payable $30,000

To record the purchase of equipment on account.

April 8:

Debit Accounts Payable (Jax Company) $3,600

Credit Inventory $3,600

To record the return of goods to Jax Company.

April 15:

Debit Accounts Payable (Jax Company) $24,400

Credit Cash Discount $488

Credit Cash Account 23,912

To record the full settlement on account.

Explanation:

Rice Co's journal entries are made on a daily basis as transactions occur.  They show the accounts to be debited and the ones to be credited in the general ledger.  Journal entries are the initial records of transactions made by the company in its accounting system.

3 0
3 years ago
hacker software has 11.8 percent coupon bonds on the market with 15 years to maturity. the bonds make semiannual payments and cu
Marysya12 [62]

The hacker software program has 11.eight percent coupon bonds on the market with 15 years to adulthood. The bonds make an annual yield and currently promote 108.7 percent of par.

The modern yield at the bonds

current yield at the bonds = 11.eight%/108.7%

the current yield on the bonds = 10.86%

The common annual yield is the income received from an investment divided by way of the length of time the funding is owned. an average annual yield is a useful device for studying the return on floating-rate investments.

YTM = price(nper,pmt,pv,fv) * 2

YTM = fee(15*2,59,-1087,a thousand) * 2

YTM = 10.63%

The effective annual yield

effective annual yield = (1+10.sixty three%/2)^2 - 1

effective annual yield = <u>10.91%</u>

The annual percentage yield is usually calculated by means of multiplying the hobby rate by means of the variety of compounded intervals in line with 12 months.

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3 0
1 year ago
The Great Depression changed attitudes toward the labor movement.
tangare [24]

Answer:

i believe the answer is TRUE

Explanation:

7 0
3 years ago
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The following standards for variable manufacturing overhead have been established for a company that makes only one product: Sta
Xelga [282]

Answer:

$13,640 Unfavorable

Explanation:

Data provided

Actual hours = 2,600

Standard hours = 6.0

Standard variable overhead rate = $12.40

The computation of variable overhead efficiency variance is shown below:-

Variable overhead efficiency variance = (Actual hours - Standard hours) × Standard rate

= (2,600 - (250 × 6.0)) × $12.40

= (2,600 - 1,500) × $12.40

= 1,100 × $12.40

= $13,640 Unfavorable

Therefore for computing variable overhead efficiency variance we simply applied the above formula.

7 0
3 years ago
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